[aaykarbhavan] No penalty on disclosure of income after search proceedings as time-limit for filing belated return wasn’t expired

No penalty on disclosure of income after search proceedings as time-limit for filing belated return wasn't expired

October 15, 2014[2014] 49 taxmann.com 185 (Jodhpur - Trib.)/[2013] 158 TTJ 260 (Jodhpur - Trib.)

IT : Where after search in case of husband, assessee-wife filed return in response to notice under section 153C and income declared was accepted in assessment, in view of fact that sufficient time was still available for filing return, under section 139(4), assessee could not be held guilty of concealment liable to penalty

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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